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Zhitong Finance APP learned that Haitong Securities released a research report, and it is expected that the net profit of China Nuclear Titanium Dioxide (002145.
Zhitong Finance APP learned that Haitong Securities released a research report, and it is expected that the net profit of China Nuclear Titanium Dioxide (002145.
The main points of Haitong Securities are as follows:
The company's titanium dioxide production and sales volume ranks second in the country
The company's titanium dioxide production and sales volume ranks second in the country
In the first half of 2021, the company's titanium dioxide prices have been raised several times
The company has deployed an annual output of 500,000 tons of iron phosphate project to realize the comprehensive utilization of resources
.
The total amount of funds the company plans to raise is expected to be no more than 7.
1 billion yuan for the production of recycled titanium dioxide deep processing projects, water-soluble monoammonium phosphate (water-soluble fertilizer) resource recycling projects, and 500,000 tons of iron phosphate projects per year
.
1) Project with an annual output of 500,000 tons of iron phosphate
.
With a total investment of 3.
8 billion yuan, the project will be constructed in two phases.
The first phase has a construction period of 100,000 tons/year iron phosphate in 24 months, and the second phase has a construction period of 400,000 tons/year iron phosphate in 36 months
.
2) Water-soluble monoammonium phosphate (water-soluble fertilizer) resource recycling project
.
The estimated total investment is 993 million yuan.
The project will be constructed in two phases, mainly to construct a 500,000 tons/year water-soluble monoammonium phosphate (water-soluble fertilizer) device; 450,000 tons/year nitrogen and phosphorus fertilizer device; 15,000 tons/year sodium fluorosilicate device ; 500,000 tons/year phosphogypsum product plant
.
The bank believes that the company will deploy iron phosphate and monoammonium phosphate and other products to realize the comprehensive utilization of resource recycling and enhance the company's comprehensive profitability
.
3) Deep processing project of circulating titanium dioxide
.
The total investment of the project is 979 million yuan.
It is planned to start construction in April 2021.
It is estimated that the deep processing scale of 150,000 tons will be realized in June 2022, and the deep processing scale of 300,000 tons of finished products will be realized in June 2023.
The project is expected to bring an annual profit of 320 million yuan
.